The Biggest Home Buyer Mistakes
1. They select the wrong agent and/or company to help them. Buyers need to hire the most experienced agent. It does not cost a buyer more to hire the most experienced agent than it does a new broker. In fact in the end it may end up costing them more.
2. They don't act quickly enough when they find the right house...and someone else buys it. I write enough protection clauses to help you if you find a property to buy but later decide the property is not right for you. But if you find one that works, make an offer! It's better to tie up the property and control your destiny than to wait and hope it will be available at a later time.
3. They don't make themselves and their offer look attractive to the seller.
4. They don't think resale BEFORE they buy.
5. They don't ask the lenders enough questions, or the right questions so they don't necessarily get the best loan.
6. They make too low of an offer. My decades of real estate has taught me many things. One has been that clients feel the lower they make an offer on a property the better the deal they can make. In most instances, I have see a low-ball offer work against them. The seller may be insulted from the offer and not counter, or the seller may negotiate, but would have countered at a lower price that he/she would have taken.
Browse Our Buying Resources
- Home Buying Guide
- Are You Ready to Buy?
- Do You Need an Agent?
- Prioritizing Your Needs as a Buyer
- Important Buyer Questions
- Local Service Providers
- Selecting a Contractor
- Resources & Regulations of Buying
- Home Warranties
- Closing Costs
- Characteristics of a Healthy Neighborhood
- Things Buyers Should Avoid
- Common Hidden Home Defects
- Questions to Ask the Home Inspector
- Buying a Condo
- Mistakes of Home Buyers
- How to Make a Great Offer
- The Final Walkthrough